Key Developments: New World Development Co Ltd (0017.HK)
13.16HKD
24 May 2013
HK$-0.08 (-0.60%)
HK$13.24
HK$13.38
HK$13.38
HK$13.06
9,436,860
15,003,579
HK$15.12
HK$7.95
Latest Key Developments (Source: Significant Developments)
New World Development Co Ltd Declares Interim Dividend
New World Development Co Ltd announced that the Directors have declared an interim dividend for the financial year ending 2013 in scrip form equivalent to HKD0.12 per share with a cash option to shareholders registered on March 25, 2013. Subject to the Listing Committee of the Hong Kong Stock Exchange granting listing of and permission to deal in the new shares, each shareholder will be allotted fully paid shares having an aggregate market value equal to the total amount which such shareholder could elect to receive in cash and that shareholders be given the option to elect to receive payment in cash of HKD0.12 per share instead of the allotment of shares. Full details of the interim scrip dividend will be set out in a letter to be sent to shareholders together with a form of election for cash on or about April 12, 2013. It is expected that certificates for the scrip shares and dividend warrants will be posted to shareholders on or before May 22, 2013. Full Article
New World Development Co Ltd Resolves To Recommend Final Dividend
New World Development Co Ltd announced that the Board has resolved to recommend to the shareholders of the Company at the annual general meeting of the Company to be held on November 21, 2012 (2012 AGM) a final dividend of HKD0.28 per share (2011: HKD0.28 per share) comprising a cash dividend of HKD0.01 per share (which is being paid in order to ensure that the shares of the Company continue to qualify as Authorised Investments for the purpose of the Trustee Ordinance of Hong Kong) and a scrip dividend by way of an issue of new shares equivalent to HKD0.27 per share with a cash option to shareholders registered on November 26, 2012. Together with the interim dividend of HKD0.10 per share paid in May 2012, total distribution for 2012 would thus be HKD0.38 per share (2011: HKD0.38 per share). It is expected that certificates for the scrip shares and dividend warrants will be posted to shareholders on or before December 31, 2012. Full Article
New World Development Company Ltd. Proposes Rights Issue Of Rights Shares At HKD5.68 Each On Basis Of One Rights Share For Every Two Shares Held On Record Date
New World Development Company Ltd. announced that it proposes to raise not less than approximately HKD11,331.96 million, before expenses, and not more than HKD12,336.70 million, before expenses, by way of rights issue of not less than 1,995,062,501 Rights Shares and not more than 2,171,953,511 Rights Shares on the basis of one Rights Share for every two Shares held by the Qualifying Shareholders on the Record Date at Subscription Price of HKD5.68 per Rights Share payable in full on acceptance. The Company will provisionally allot one Rights Share in nil-paid form for every two existing Shares held by each Qualifying Shareholder on the Record Date. The estimated net proceeds of the Rights Issue will be approximately HKD11,154.96 million after the deduction of all estimated expenses of HKD177.00 million (assuming that no Shares have been allotted or issued on or before the Record Date pursuant to any exercise of the Conversion and Subscription Rights), or approximately HKD12,134.50 million after deduction of all estimated expenses of HKD202.20 million (assuming that Shares have been allotted and issued on or before the Record Date pursuant to full exercise of all outstanding Conversion and Subscription Rights). The Directors currently intend to use the net proceeds of the Rights Issue for (i) financing the subscription of the NWCL Rights Shares if the NWCL Rights Issue proceeds in accordance with its terms; (ii) funding the development costs of the Group’s property projects. Full Article
New World Development Company Ltd. Recommends Final Dividend
New World Development Company Ltd. announced that the Board has resolved to recommend to the shareholders of the Company at the annual general meeting of the Company to be held on November 22, 2011 (2011 AGM) a final dividend of HKD0.28 per share (2010: HKD0.28 per share) comprising a cash dividend of HKD0.01 per share (which is being paid in order to ensure that the shares of the Company continue to qualify as Authorised Investments for the purpose of the Trustee Ordinance of Hong Kong) and a scrip dividend by way of an issue of new shares equivalent to HKD0.27 per share with a cash option to shareholders registered on November 25, 2011. Together with the interim dividend of HKD0.10 per share paid in May 2011, total distribution for 2011 would thus be HKD0.38 per share (2010: HKD0.38 per share). Full Article
New World Development Company Ltd.'s Wholly-Owned Subsidiary Announces Disposal Of Property
New World Development Company Ltd. announced that on August 16, 2011, Newly Development Limited, (Vendor), a wholly-owned subsidiary of the Company, and Fast Solution Limited, a company indirectly owned as to 90% by Mr. Doo, a director of certain subsidiaries of the Company, and hence a connected person of the Company under the Listing Rules (Purchaser) entered into the Disposal Agreement pursuant to which the Vendor has agreed to sell, and the Purchaser has agreed to purchase, the Property for a consideration of HKD143,000,000. Unless any part of the Property has become vacant prior to completion of the Disposal Agreement (in which case vacant possession of such part shall be delivered to the Purchaser on completion of the Disposal Agreement), the Property is sold subject to the existing licence and tenancy. It is provided in the Disposal Agreement that completion of the Disposal Agreement shall take place on or before August 31, 2011. Full Article
New World Devel plans Hong Kong hotels listing
HONG KONG, May 2 - Hong Kong property developer New World Development plans to spin off and list three of its hotel properties in a initial public offering in Hong Kong.
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